In Focus: Pushing the advice boundary  

Implications of FCA 'polluter pays' proposals for DB transfer advice

  • Describe the FCA's 'polluter pays' proposals
  • Identify how they might affect defined benefit transfer firms
  • Identify how DB transfer firms should prepare for the new rules
CPD
Approx.30min

By

Sarah Abraham leads the pension redress team at First Actuarial 

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CPD
Approx.30min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. Which of the below will form part of a firm's provisional redress documentation under the proposed rules?

  2. Firms will be required to hold capital to cover the total value of potential redress liabilities. True or false?

  3. Why is establishing a suitable estimate for potential redress difficult for DB transfers, according to the author?

  4. It will be permissible to allow for PI insurance cover in the calculations. True or false?

  5. What should DB firms do to prepare for the new rules?

  6. Firms should not speak to their PI insurer at this stage, according to the author. True or false?

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You should now know…

  • Describe the FCA's 'polluter pays' proposals
  • Identify how they might affect defined benefit transfer firms
  • Identify how DB transfer firms should prepare for the new rules

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